Petkim Holding's year end forecast positive

Izmir. 10 September. REPORT.AZ/ Forecasts of Petkim Holding, main share of which belongs to the State Oil Company of Azerbaijan Republic (SOCAR), positive for this year.

Report informs,Petkim HoldingCEO Anar Mammadov said at meeting with Azerbaijani journalists, who are on a visit toIzmir.

He noted that, record figures were registered in January-July 2016: "The record is registered in the indicators for total profit, net profit, as well as EBITA. In this regard, this year is the most successful in the history of Petkim. According to the Istanbul Stock Exchange, the value of Petkim investments reached a 5-year high, indicating investor confidence. "

A. Mammadov said that Petkim has a brilliant future.He noted most of the products sold on the domestic market of Turkey, at the same time exported to more than 30 countries.Deputy director general of Petkim Holding Nihat Gürbüz said the production capacity of the ethylene plant, which is the largest factory of Petkim petrochemical complex, increased by 13%.According to him, 70-80 mln euros were spent on it. "Increasing capacity is economically very profitable investment.In figures of this year, we have positive results, "- he added.

Petkim Petrokimya A.Ş, which is one of the leading institutions in the development of industry in Turkey, was founded in 1951.

As a major producer of Turkish industry raw materials, Petkim is a leader in manufacturing plastic and packaging, paints, cosmetics, as well as in construction.

At the end of the privatization process, which ended in 2008, SOCAR became the main shareholder of Petkim.

The complex Petkim on the territory of Aliaga includes integrated with each other 14 major factories and 8 auxiliary structures. As a whole 2 443 people were employed in this complex and offices in the country. In addition, 2000 workers employed in companies that provide services for the complex of Petkim.

Ethylene production in the complex reached 582 thousand tons.The volume of petrochemical companies for the production of ethylene is determined by the value of production. In this regard, Petkim took 33rd place in the world.

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